Market Size of Advanced Authentication Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 13.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Financial Services Advanced Authentication Market Analysis
The global advanced authentication market in the financial service industry was valued at USD 3.476 billion in 2020, and it is expected to register a CAGR of 13.6% over the forecast period 2021-2026. The financial services domain, to provide seamless services to its end users, needs to share sensitive and often regulated information across organizations and corporates. The need for sharing data has increased considerably over the last few years, majorly as a result of the advent of cloud-based services.
- Online frauds, changing consumer dynamics and increasing technology penetration are driving the adoption of online services among end users. The trend is also driving online transactions, resulting in a renewed emphasis on security and privacy.
- Major solution providers in the market today are focusing on providing a broad platform to support various existing entities in the environment, including Windows Credential Provider, OSX, iOS, Android, Windows Mobile, and Linux Pluggable Authentication.
- As the population and creativity of hackers grow, BFSI sector is compelled to deploy new authentication methods which will ensure protection of customer data. It is forcing the vendors for continuous innovation.
